Management of Rentals and Subscriptions
When creating a product, you can select either "Subscription" or "Rental" from the category field.
In the product properties, the "RENTAL" tab will be displayed if the product is of the Rental type, while the "SUBSCRIPTION" tab will be shown if the product is of the Subscription type.
Both product types require the same configuration data, with the only difference being that, for rentals, the "Linked Product" field is mandatory. This is because the Rental product defines the configuration, while the linked product represents the physical item. You can define the rental details and renewal criteria.
The "Duration" field specifies the unit of measurement and the length of the rental or subscription period.
The total amount is calculated based on the unit price and duration.
There is a switch to indicate whether the subscription should be automatically renewed.
The "Billing Period" field specifies the applicable billing method and provides a summary of the calculated amount.
For rentals, the "Linked Product" field is mandatory, as it represents the physical item the customer will take possession of for the agreed-upon period.
The Rental product defines the logistical and financial characteristics of the item specified in the Linked Product field.
Finally, in the "Terms and Conditions" field, you can freely enter any relevant information regarding the rental.